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FameEX Morning Crypto News Recap | December 18, 2023
2023-12-18 12:04:10
US Lawmakers Express Concerns Over Lack of Clarity in SEC's Crypto Regulation
U.S. lawmakers are expressing dissatisfaction with the Securities and Exchange Commission (SEC) and its Chair, Gary Gensler, for their lack of clear regulation in the cryptocurrency industry. Critics argue that this ambiguity harms the market, introducing unwarranted turmoil and unpredictability. Gensler's reluctance to provide comprehensive guidance has triggered harsh reproach from numerous congressional members.
Goldman Sachs: Don't Expect an Immediate Bitcoin Rally After Spot Bitcoin ETF Approvals Goldman Sachs has advised against expecting an immediate surge in Bitcoin's price upon the approval of spot Bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC). Although the ability to transact a familiar product at scale is seen as a positive development, the bank does not anticipate an instant rally in Bitcoin's value following ETF approval. U.S. Lawmakers Propose Bill to Counter Terrorism and Threats Linked to Digital Assets A bipartisan group of U.S. lawmakers has introduced a bill aimed at combating terrorism by imposing sanctions on foreign entities, including cryptocurrency platforms, that assist terrorists with financial transactions. The proposed legislation seeks to provide the Treasury Department with increased resources to address emerging threats associated with digital assets. Bank of China Successfully Conducts First Cross-Border Digital Yuan Commodity Trade Bank of China Hong Kong has completed its first cross-border digital yuan trade with its parent company, Bank of China. The transaction involved receiving payment for an imported iron ore commodity bulk trade, highlighting the digital yuan's potential as a settlement option for such transactions. This marks a significant step in the adoption of the digital currency in cross-border trade. Certainly! Here's a rewritten title: "Russian Government Investigates Exporting Cryptocurrencies with Commodity-Like Features" The Russian government is exploring the idea of allowing cryptocurrency miners to export their digital assets, treating them similarly to other exports such as natural gas. Ivan Chebeskov, the Deputy Minister of Finance, raised this possibility in relation to a bill introduced in 2022 to legalize cryptocurrency mining. If approved, the bill could enable miners to export cryptocurrencies like traditional commodities. IMF Chief Urges Clarity in Crypto Regulation, Cites Concerns Over Widespread Adoption and Financial Stability The head of the International Monetary Fund (IMF) is calling for transparent worldwide cryptocurrency regulations, expressing concerns about the potential impact of extensive cryptocurrency adoption on macro-financial stability. She stressed the significance of implementing clear regulations to manage cryptocurrency-related risks, all while leveraging the technology to improve the financial system's efficiency and accessibility. NFT Sales Exceed $500 Million, Driven by Unprecedented Bitcoin Growth In the past week, non-fungible token (NFT) sales surged by 52.81%, reaching a total of $503.35 million. Bitcoin led the NFT market with sales of $276.79 million, highlighting its growing influence in the sector. Notably, eight of the top ten NFT collections by weekly sales were based on the Bitcoin blockchain. Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.
